Minnana: Some price discipline matters, and that outrageous valuations could be a sign of a founder who is optimizing for the wrong things. A lot of firms i'm seeing are going to have a hard time reaching the valuations they hit," he says. "I don't blame founders for taking advantage of this moment in time" 'These these valuations are probably crazy right now,' Minnana adds; 'but they may not be crazy'